SOURCE: Landmark National Bank

October 31, 2006 16:25 ET

Landmark National Bank Reports 2006 Third Quarter Results

SOLANA BEACH, CA -- (MARKET WIRE) -- October 31, 2006 -- Landmark National Bank (OTCBB: LMRK) announces operating results for quarter ending September 30, 2006.

As of September 30, 2006, loans totaled $83,770,000, deposits totaled $94,153,000 and assets totaled $116,628,000. Net income for the nine months ending September 30, 2006 was $711,000, or 37 cents per share compared to the previous nine months ending September 30, 2005 when the net income was $82,000, and .06 per share.

The locally owned and operated community bank is managed by Rick Mandelbaum, chief executive officer and president.

About Landmark National Bank

Landmark National Bank offers traditional full-service banking to individual customers, professionals and small- and medium-sized businesses. In addition to a variety of deposit accounts and cash management services, the Bank offers a mix of loan products that include commercial, professional and industrial lending packages, as well as Small Business Administration loans and consumer, installment, home equity, construction and real estate loans.

Landmark National Bank's Lomas Santa Fe office, loan center and corporate headquarters are located at 937 Lomas Santa Fe Drive. The La Jolla office is located at 7817 Ivanhoe Avenue in La Jolla. The Bank also operates an office two days a week at the White Sands of La Jolla Retirement Community at 7450 Olivetas Avenue in La Jolla.

Certain statements in this press release, including statements regarding the anticipated development and expansion of the Bank's business and the intent, belief or current expectations of the Bank, its Directors or its Officers, are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the local and national economy, the Bank's performance, regulatory matters and those discussed in filings by the Bank with the Office of the Comptroller of the Currency.

Contact Information

  • Contact:
    F. J. "Rick" Mandelbaum
    Landmark National Bank
    858-947-2323

    M. Catherine Wright
    Landmark National Bank
    858-947-2328

    LANDMARK NATIONAL BANK
    Telephone: 858-509-2700
    Fax: 858-509-0898
    E-mail: Email Contact

    Contact Landmark National Bank
    937 Lomas Santa Fe Drive
    Solana Beach, CA 92075
    Telephone: 858-509-2700
    Fax: 858-509-0898
    E-mail: Email Contact